Analyze graphs: grow the Ethereum Monday?
Source:
The Price of Ethereum faced strong selling pressure after the recent draining of the stock market. Trading pair ETHUSD hangs in the balance from falling below $ 200. The longer the asset is trading under the resistance 212 dollars, the less buyers want to buy it.
The Overall situation looks like this:
the- on 4-hour chart formed two descending local trend. The first is a resistance area 208 dollars, and the second in area 218 USD; the
- in the near future there can be a pullback, but it is unlikely the bulls manage to consolidate above $ 212.
This week, the cryptocurrency fell to a new local minimum at the level of $ 185; the
At the moment Ethereum is trading at $ 200. For the past day the price of the cryptocurrency has not changed.
theTechnical analysis
This week has become a serious challenge for investors in Ethereum. Asset was unable to break resistance at $ 234, so draining of the stock market had a very negative impact on the situation with the Ether. Just a half hour it fell below the support in the area of 206 and 200 dollars and reached local bottom at 185 dollars.
Drain and ended with a little correction, now the asset balances on a very fragile edge. For the bulls it is very important to keep $ 200 as psychological support.
In Addition to the horizontal levels, resistance Ethereum is also moving average 100 SMA on 4-hour chart. Before you can asset a lot of obstacles to growth, 206, 208 and 212 dollars. Customers will not be easy to reach from three horizontal resistance, 100 SMA and several Fibonacci levels.
Source: NewsBTC
Technical indicators saying about the danger of opening a trading position. MACD just went in the oversold zone and RSI is teetering just below average.
If you want to buy Ethereum for long-term investment, it can be done now. Cryptocurrency positive fundamental factors: hardwork , the transition to PoS and improvement of the blockchain. To obtain a quick profit in this market situation, alas, is very difficult.
The Analysis of graphs carried in .
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